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Sounds to me like they weren't as smart of businessmen as you thought they were...to many places to go with that one. I know it happens but for a guy with millions and "several" houses...POOR choices is what that is. At some point you have to cut your losses and retirement is where that line should be drawn. Been to the malls or restaurants lately? I am still missing the part about recession...We all make choices, and have to live with those choices. 8-10% unemployment is NOT a recession. http://www.bls.gov/news.release/empsit.nr0.htm

Well everybody gets an opinion. Mine's different than most.

As far as houses, the people I know with rentals are doing better than those that had their retirement based in the stock market, so I don't have a problem with someone that wants to own several houses.

There were large amounts of retirement invesments lost in the stock market over the last few years, I don't blame the working man for not seeing it coming they were just making the best investments they knew of at the time. It's pretty painfull for those guys that are close to or at retirement age of course. They saved for years because they are responsible for their own retirement and that investment went "poof"!

Having a million or more stashed away (or a million + in property) after a lifetime of self employment really isn't a lot of money. With no other retirement income to depend on but their own it's a smart thing. People live a long time these days.

I also don't fault a man who keeps his business open and keeps his good hands around as long as possible hoping to ride it out like he's done several times in the past. Probably not the smartest business decision in hindsight but they did it based on past experience and loyalty to good, long term employees. Hope springs eternal in the American entrapuneer.

10% unemployment across the country doesn't tell the story in construction. Or a few other fields.

Lot's of people are doing fine in this economy, some are surviving but in some fields it's pretty harsh. Hopefully the worst is over but I doubt it.

I'm curious, how many years experience do you have owning a weldin bidness? A large percentage go under within 5 years even when there is a big honky number of projects to bid.

You'd have to work a lot harder than that to offend me my skin is relatively thick.
It was just a discussion to me.
I can't speak for others tho, and I'm not sure I have any "friends".

Have you run a welding business?
I got the impression you are an employee.

There is a lot of business advice on the net, some good, some not so good. What works for me probably wouldn't for a lot of people.
But one thing I know is that cost knowledge works for everbody.
And there are a lot of welding segments today with very little product demand and a bunch of people quoting at cost or below just to stay open till better demand arrives

OK.
You know what they say, when your neighbor is out of work it's a recession, when you're out of work it's a depression.
No BS in my post, people who have their heart and soul in their business, it's their baby. And they can be pretty attached to employees who've been there in good and bad and always pulled their weight.
So maybe they hang in too long to suit you but that's just how they are. That man sleeps well at night even if he has less in the bank.
Your retirement suggestion is fine, IF you're at retirement age and have a pension/401k/similar to draw on like most employees do. There's really more to it than I have the ambition or inclination to type. It's a different world than it is for people who punch a clock.

I will say I think it's a load of crap when a guy asks for advise and gets some real good stuff and then the rest of the thread is nothing but undermining the good advise. I don't post on threads unless I am pretty much 100% certain my advice is rock solid. And I don't call BS anymore these days. It is just bad for the forum. If someone posts what you think is BS, then simply post your good advice, and if it is taken, then you have done a good thing.
God knows I have made many posts that I believed were utter genius, only to be ignored. Only the other pros appreciate that stuff, and this place is really a hobby site. Much just blows over.
The actual losing of all the investments was the RESULT of business gone sour, not the cause.
I could lose my tail tomorrow.
There are plenty of dudes out there trying to eat my lunch these days. They are cheaper than me and get some of my work. But their work sucks and eventually I win. OVER and OVER.
I am all for the new guys. Just not in my territory

Not a Joke..!!

this thread got hijacked by a well meaning fella that has zero business experience...and hardly any welding experience.. Doughboyracer is just unclear on the concept...and freely admitted so after things got jumbled.. may mean well ... but all of his commentary was totally off base..... he may consider this a joke... maybe we should take that into account any time he posts...

might be we should back off to where we were addressing the OP...and his questions... not entertaining some bored programmer in his cubicle...

.

*******************************************
The more you know, The better you know, How little you know......

“The bitterness of poor quality remains long after the sweetness of low price is forgotten”

Buy the best tools you can afford.. Learn to use them to the best of your ability.. and take care of them...

As posted above, I don't own any type of shop.
I weld for myself, not as a job.
I am an animator to pay the bills.
I am on vacation (but still at work) this week.
I have a few models that need to be finished by the end of the year so I can animate them right away in the New Year.
I enjoy reading the posts in here to gain knowledge on something I enjoy doing but am very poor at.
I also like to point out things that I think are BS when I see them, but that is IMHO of course.
I don't claim to know anything about owning or operating a welding business or any other type of business, as a matter of fact I have never even had the balls to attempt it.
Thank you for taking the time to hash this out/clear it up with me.

Then why are you posting on a thread seeking business advice??????????????
Hope you got a big charge out of yanking our chain and wasting everybodys time... we will see you coming next time........